Broadcom Inc. (NASDAQ:AVGO) Stock Position Trimmed by Lincoln National Corp

Lincoln National Corp cut its position in Broadcom Inc. (NASDAQ:AVGO) by 3.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,063 shares of the semiconductor manufacturer’s stock after selling 295 shares during the quarter. Lincoln National Corp’s holdings in Broadcom were worth $10,116,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. BetterWealth LLC increased its position in Broadcom by 1.5% in the 4th quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock valued at $672,000 after acquiring an additional 9 shares in the last quarter. Sargent Investment Group LLC grew its position in shares of Broadcom by 1.6% during the 4th quarter. Sargent Investment Group LLC now owns 557 shares of the semiconductor manufacturer’s stock worth $622,000 after buying an additional 9 shares during the period. Rise Advisors LLC boosted its stake in Broadcom by 33.3% during the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after acquiring an additional 10 shares during the last quarter. CX Institutional boosted its stake in Broadcom by 0.8% during the 4th quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock worth $1,439,000 after acquiring an additional 10 shares during the last quarter. Finally, Cascade Investment Group Inc. boosted its stake in Broadcom by 1.7% during the 4th quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock worth $680,000 after acquiring an additional 10 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AVGO has been the topic of several recent analyst reports. Evercore ISI initiated coverage on shares of Broadcom in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price objective on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Mizuho lifted their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, Benchmark reiterated a “buy” rating and issued a $1,720.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Price Performance

Shares of NASDAQ AVGO traded down $7.20 during trading hours on Tuesday, hitting $1,303.11. 1,235,373 shares of the stock were exchanged, compared to its average volume of 2,871,908. Broadcom Inc. has a 1-year low of $615.86 and a 1-year high of $1,438.17. The company’s fifty day simple moving average is $1,308.68 and its two-hundred day simple moving average is $1,154.58. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The company has a market cap of $603.89 billion, a PE ratio of 48.54, a price-to-earnings-growth ratio of 2.60 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The firm had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.83 earnings per share. On average, sell-side analysts predict that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.61%. Broadcom’s dividend payout ratio is currently 77.84%.

Insiders Place Their Bets

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the sale, the director now directly owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Justine Page sold 110 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the transaction, the director now directly owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock valued at $40,306,667 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

About Broadcom

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.